open/save excel file in web application

I know that it is possible to open an excel file from within a web application, but my question is, can you also save this file to the server?

In my case, this is an intranet where the users would be able to open THISFILE.xls by clicking a hyperlink on a page and then save the file back to the server when complete by clicking save. The user would have access to the shared file on the server.

It would really be just like a "shortcut" to a file on the server, but that file could be saved by the client user.